Each year human activity contributes some 25+bn tonnes of CO2 and other active greenhouse gases directly into the atmosphere, each person in the developed world has a typical carbon footprint between 10 to 20 tonnes.
BFC understand a range of solutions that break through the conventional paradigm that low carbon solutions and economic growth are at best mutually exclusive objectives, dominated by a world of regulation and the ever increasing cost of compliance.
Our planet is running out of atmosphere faster than it’s running out of fossil fuels
CO2 has increased in the atmosphere from 280 parts per million (ppm) pre-industrial revolution to around 400 ppm in 2013. If present trends continue levels are predicted to exceed 700ppm which could lead to further global warming, damage to fragile eco-systems, and more frequent severe weather events, and a major impact on the world economy, quantified in the Stern Report.
The challenge is to stabilise and then reduce CO2 levels to prevent the most damaging aspects of climate change at around 500 ppm, against a background of rapid global population and economic growth. This pragmatic approach is fully described in the Princeton University project called Solving the Climate Problem for the next 50 years.
The 2003 Royal Society Report on Environmental Pollution concluded that stabilisation would only be possible if the current level of global carbon footprints were reduced by 60% up to 2050 followed by a further 80% reduction leading up to 2100, this is not business as usual. In the UK this is supported by the new legally binding Climate Change Act with commitments of 80% CO2 reductions up to 2050, here.
New EU 20:20:20 Directive driven legislation will drive the market to enable EU27 countries to meet three new targets by 2020.
Now is the time for all nations and individuals to go beyond compliance and reduce their carbon footprints
- to increase the share of energy generated by renewables to 20%,
- to cut total greenhouse emissions by 20%,
- to improve energy efficiency by 20%.
The Stern Report has quantified the opportunity and the size of the prize for enlightened organisations of more than £ 257bn by 2050 for low carbon products and services, a huge opportunity for employment, innovation and wealth creation in the new low carbon green knowledge economy. A strong case for pragmatic optimism is emerging.